USDX SHORT? I have been keeping my eye on USDX and the recent sgorts from USD HAVE been in sync with USDX. And i dont doubt with more movement from here we will see it directly.
Usdxshort
USDX I'm expecting a short term depreciation on USDX. But the outcome of the news can oppose my idea. FOMC.
DXY - The fall of USD?? Now this may be hard to grasp in, but the technicals don't lie...
USD index has tested the support line of the upward channel, unfortunately the support wasn't capable of holding the price to it's intended direction.
The dollar index has been strong since last early, respecting the formations of higher highs and higher lows.
Seems like the bears are taking control of the market.
USDX is overestimatedHi traders,
Today I analyzed USD index that can reflect on currency basket and prices of commodities.
Level of index is currently overestimated and is above 95.00 lvl so I expect sharp drop to 94.70 lvl as a 1st target and maybe test 94.50lvl as a 2nd target.
That will reflect on strengthen currency basket against USD.
Feel free to comment your opinion!
DXY/USDX OUTLOOKExpecting price to reach for the breaker block at the 90.540 level then later fall to fill the liquidity below the equal lows at the 90.200 level. This move will cause all XXXUSD pairs to be bullish.
Short DXY for 2021Using equidistant channel, the DXY is still on a monthly fall with a possible lower channel support on 87.578.
In view of a larger bullish channel, a stronger support maybe around 79.50.
This bearish move seems to be of higher probability in view of potential economic stimulus in the pipeline, aligned with the narrative COVID-19 market playbook: extreme instability before unified order.
Intermediate stop loss: 91.50
1st profit target: 87.578
DXY September (Bearish Seasonal Tendency)The Seasonal Tendency for the month of September for the DXY is Bearish, Look for shorts this month but also be able to adapt to what the market gives you
Dollar index completes pullback, more weakness aheadTrading plan
After breakout of the range at the end of May, trend is clearly bearish. Fundamentals speak about selling bias too (Fed's Bostic comments, hints about more stimulus, partial lockdown reversals in the US).
Bullish pullback has been completed completed in unusual double-top pattern which played as a trend continuation pattern (yes it happens sometimes).
SELL from 96.50 zone with target at June 10 bottom.
Stop Loss: 96.80. R/R: 1:3
Press like if you support this idea!
DXY: Dollar IndexINDEX:DXY possible drop looming for dolar index as it approaches key resistances zones
doLLA HOLLA ... DOLLAR DEATHTRAP / KILLBLESSED "GREGORIAN NEW YEAR"
not much is needed more than what should be plainly visible in DXY chart. and not to grip and seek out DOOM and GLOOM, but unfortunately i was handed a pretty strange "gift" to add to what is both technically and now fundamentally playing out: last december i was handed a series of dreams/ visions regarding currency collapse. the dream/ vision was not stock market collapse but GLOBAL CURRENCY COLLAPSE, well before the Deutsche Bank, Fed "Repo" pump scandal taking place right now...
and while any and all will like to discount all this, im sorry, after i was handed a Biblical Acts1:8 encounter back in Dec 2009, that came with tangible Mark16:17,18 evidence i walk in, i have consistently gotten "glimpses" to direct all that will be wise and humble enough to hear: all this of course GOD has done as a setup, so that perhaps i may gain your ear, on what EXACTLY HE TOLD ME THE VERY NIGHT OF MY ACTS1:8 THAT WILL FULLY DEVASTATE THE WHOLE PLANET.
good day now.
TVC:DXY TVC:GOLD
Another reason why DXY should fallUSDX - there is strong resistance at 98.4-.6
Almost no momentum left for USDX to rally further
us index on daily should test the moving 200 very soonbearish signal also on the daily time frame for the US index
USDX approaching resistance, potential drop! USDX is approaching our first resistance at 96.14 (horizontal swing high resistance, 61.8% Fibonacci extension, 76.4% Fibonacci retracement) where a strong drop might occur below this level pushing price down to our first support at 95.06 (horizontal swing low support, 50% Fibonacci retracement, 100% Fibonacci extension). Stochastic (55,5,3) is also approaching resistance and we might see a corresponding drop in price should it react off this level.
USDX approaching resistance, potential drop!USDX is approaching our first resistance at 94.37 (horizontal overlap resistance, 50% Fibonacci retracement, 100% Fibonacci extension) and a strong drop might occur below this level pushing price down to our major support at 94.00 (horizontal swing low support, 76.4% Fibonacci retracement).
Stochastic (55,5,3) is approaching resistance and we might see a corresponding drop in price should it react off this level.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
US Dollar Index at potential support around 93.70/94.00 ?The US Dollar Index broke lower from its consolidation, dropping to fresh lows at 93.83 levels. Please be aware of a potential bear trap around 93.70 and 94.00 levels since the entire region is fibonacci 0.382 support of the previous rally between 88.00 through 97.00 levels respectively. Looking at the wave structure, it could still remain probable for the index to carve out an expanded flat as wave B. If the count holds, we would not be surprised to witness a rally towards 95.50/96.00 levels going forward. At the moment, we are changing our stand from bearish to neutral.
Disclaimer:
This written/visual material is comprised of personal opinions and ideas. The content should not be construed as containing any type of investment advice and/or a solicitation for any transactions. It does not imply an obligation to purchase investment services, nor does it guarantee or predict future performance. FXTM, its affiliates, agents, directors, officers or employees do not guarantee the accuracy, validity, timeliness or completeness of any information or data made available and assume no liability for any loss arising from any investment based on the same.
US Dollar Index Wave B as Expanded Flat ?The US Dollar Index is also consolidating within the rectangle region highlighted on chart here. Looking at the wave structure, Wave B could be still unfolding as an expanded flat a-b-c, before Wave C decline could resume. If this count holds true, we could witness a sharp rally towards 95.70 or probably 96.00 levels as Wave B termination point. Also note that a break above 95.00 levels would instill further confidence for the above count. As an alternate though, a break below 94.00/20 consistently, would be further bearish for the US Dollar Index. Overall bearish structure remains intact towards potential 91.50 and 92.00 levels going forward.
Disclaimer:
This written/visual material is comprised of personal opinions and ideas. The content should not be construed as containing any type of investment advice and/or a solicitation for any transactions. It does not imply an obligation to purchase investment services, nor does it guarantee or predict future performance. FXTM, its affiliates, agents, directors, officers or employees do not guarantee the accuracy, validity, timeliness or completeness of any information or data made available and assume no liability for any loss arising from any investment based on the same.
US Dollar Index could test 95.70 levels again ?The US Dollar Index short term picture could still remain encouraging to bulls if prices stay above 94.40 levels. The index is probably carving an expanded flat corrective wave structure as potential Wave B. If this structure holds well, we could see prices rally back towards 95.70 levels at least or even push through 96.00 mark. The rally on Friday from 94.38 lows through 95.00 could retrace lower before resuming again. Overall the medium term wave structure (several weeks), could remain bearish towards 92.00 and 91.50 levels respectively.
Disclaimer:
This written/visual material is comprised of personal opinions and ideas. The content should not be construed as containing any type of investment advice and/or a solicitation for any transactions. It does not imply an obligation to purchase investment services, nor does it guarantee or predict future performance. FXTM, its affiliates, agents, directors, officers or employees do not guarantee the accuracy, validity, timeliness or completeness of any information or data made available and assume no liability for any loss arising from any investment based on the same.
USDX approaching resistance, potential drop! USDX is approaching our first resistance at 94.91 (horizontal overlap resistance, 23.6% Fibonacci retracement) and a strong drop might occur below this level pushing price down to our major support at 94.40 (horizontal swing low support, 78.6% Fibonacci retracement). Ichimoku cloud is also showing signs of bearish pressure in line with our bearish bias.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
US Dollar Index remains vulnerable around 95.70/96.00 levelsThe US Dollar Index 0.02% hourly story is suggesting that the recent rally on Friday may push it higher towards 96.00 levels before finding strong resistance again. There is no certainty of the above though, but a possibility cannot be ruled out. Please note that fibonacci 0.618 resistance is also seen at 96.00 levels and we can expect a bearish reaction if prices manage to reach there. Overall, the US Dollar Index 0.02% remains a chart to be probably sold upon intraday rallies through 95.0/96.00 levels. Yet another round of sell off could be on its way towards 92.00 levels.
Disclaimer:
This written/visual material is comprised of personal opinions and ideas. The content should not be construed as containing any type of investment advice and/or a solicitation for any transactions. It does not imply an obligation to purchase investment services, nor does it guarantee or predict future performance. FXTM, its affiliates, agents, directors, officers or employees do not guarantee the accuracy, validity, timeliness or completeness of any information or data made available and assume no liability for any loss arising from any investment based on the same.
USDX wave (A) up finishing - (B) correction soonIm not bullish, bearish, or neutral. It all depends on what the timeline is.
Short term, bearish;
- 5 waves up complete,
- strong rejection of the bulls shown in long wicks up,
- I would call strong bearish divergence on daily RSI (several peaks show declining RSI peaks while price has been rising),
- A strong recent rally in USD.
indicates that a correction is expected. By my count this would be a wave B of (B) for <100% retracement of wave A - I arbitrarily chose a 0.618 retrace.
Medium term (couple of weeks time) bullish;
- wave C (of wave (B) assumed to reach 1:1 of wave A, although it may not reach that high,
- This is based on a B wave being comprised of a 5 (or 3) waves A, followed by 3 wave B, and (always) 5 wave C. This would mean 3 waves down is next on the sequence.
Medium - long (after the ABC sub-move has terminated finishing wave (B) and the wave (C) commences) strongly bearish;
- Wave (C) always comprises 5 wave where wave (A) also had 5 waves,
- Wave (A) was quite strong and I will be interested to see if wave (C) is as strong because it will mean a significant move down.
This analysis is 100% technical and includes no fundamental analysis. Let's see if it can stand on its own. I am not a FOREX trader and don't expect to become one. My trading is limited to cryptocurrency, crude, silver, and gold currently, although, I am keen to expand to other commodities. This is published for my own education.
